| Mobile Web

Search results for iM Financial Group

Finance

Governance reform, digital assets legislation in focus as financial agenda may accelerate after election

South Korea\'s financial sector is turning its attention to regulators and parliament after the June 3 local elections, with a range of delayed policy issues expected to return to the agenda in the second half. These include governance reforms at financial holding firms, possible restrictions on jeonse loans for non-resident single-home owners, a no-fault compensation scheme for voice phishing victims, the Digital Assets Basic Act and revisions to the Microfinance Act.

Finance

Regional financial holdings post mixed Q1 net profit results despite asset growth

BNK, JB and iM financial holding groups posted asset growth in the first quarter, but their profit structures diverged. Combined net profit rose 9.9 percent from a year earlier to 532 billion won. BNK’s profit jumped 26.9 percent, while JB and iM were little changed. Differences emerged in non-interest income, expenses and asset quality indicators. All three saw capital units strengthen their role in earnings and expanded shareholder return policies.

Finance

iM Bank signs MoU with Daegu and KODIT, pledges 1.5 billion won

iM Bank said on Feb. 26 it signed a financial support agreement with Daegu and the Korea Credit Guarantee Fund to foster small and midsized companies engaged in local strategic industries. The deal is part of iM Financial Group’s plan to supply 45 trillion won in productive finance over five years. iM Bank will contribute a total of 1.5 billion won, funding 40.2 billion won in guaranteed loans. Daegu will provide interest support of 1.7 percentage points for two years.